Zenas BioPharma Expands Offering with Additional Shares Sale
Zenas BioPharma Enhances Capital from Public Offering
WALTHAM, Mass. - Zenas BioPharma, Inc. (NASDAQ: ZBIO), a pioneering clinical-stage biopharmaceutical company, recently shared exciting news about its successful public offering. The company is dedicated to leading the charge in the development and commercialization of transformative therapies focusing on immunology. Zenas announced that the underwriters from its previously announced upsized initial public offering managed to exercise their option, allowing them to purchase additional shares.
Details on the Offering
Originally, Zenas was set to offer 13,235,294 shares of its common stock. However, the underwriters fully exercised their option to purchase an additional 1,985,294 shares at the price of $17.00 each. This means that after the conclusion of this transaction on a recent day, Zenas raised approximately $258.7 million through the sale of 15,220,588 shares, all sold by the company itself. Since the offering's initial commencement, Zenas has quickly become an active participant on the Nasdaq Global Select Market under the symbol "ZBIO".
Market Participation and Management
Esteemed investment firms Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities served as the joint book-running managers for this notable offering. Their involvement reflects the confidence the market has in Zenas BioPharma's potential and its innovative offerings in the medical sector.
Regulatory Compliance
Following proper regulatory procedures, Zenas filed registration statements related to the shares sold with the U.S. Securities and Exchange Commission. These registration statements became effective recently. As is standard practice, the offering was marketed exclusively through a prospectus, ensuring compliance with regulatory requirements.
About Zenas BioPharma, Inc.
At the core of Zenas BioPharma's mission is its commitment to patients who are battling autoimmune diseases. As a clinical-stage company, Zenas aims to assert its leadership in providing immunology-based therapies. Their flagship product candidate, obexelimab, illustrates their innovative approach. This bifunctional monoclonal antibody is designed to bind to both CD19 and Fc?RIIb, effectively inhibiting the function of cells responsible for many autoimmune disorders while ensuring those cells are not depleted.
Investor Relations Contact
For inquiries about investments or the company's strategic direction, Matthew Osborne leads the Investor Relations and Corporate Communications effort at Zenas. He can be reached via email at Matt.osborne@zenasbio.com.
Media Relations Contact
For media inquiries, Argot Partners serves as the contact point for Zenas BioPharma. You can reach them at Zenas@argotpartners.com.
Frequently Asked Questions
What was the total amount raised in Zenas BioPharma's offering?
Zenas BioPharma raised approximately $258.7 million from the sale of 15,220,588 shares in its initial public offering.
When did Zenas BioPharma's shares start trading?
The shares of Zenas BioPharma officially commenced trading on the Nasdaq Global Select Market on a recent date under the ticker symbol "ZBIO".
Who managed the public offering for Zenas BioPharma?
The offering was managed by Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities.
What is the lead product candidate for Zenas BioPharma?
Obexelimab is Zenas BioPharma's lead product candidate, aimed at treating autoimmune diseases.
How can I contact Zenas BioPharma for investment inquiries?
Investors can contact Matthew Osborne at Zenas via the email address Matt.osborne@zenasbio.com.
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